Stock 3691 GIGA SOLAR MATERIALS CORP.
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Financials Giga Solar Materials Corp.

Equities

3691

TW0003691002

Renewable Energy Equipment & Services

End-of-day quote Taipei Exchange
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
144 TWD -1.37% Intraday chart for Giga Solar Materials Corp. -2.04% +59.12%
Mar. 29 Giga Solar Materials Corp. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Giga Solar Materials Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,217 8,338 12,837 15,703 9,142 8,315
Enterprise Value (EV) 1 10,271 12,275 15,831 16,988 8,779 8,795
P/E ratio -5.47 x 43.3 x 64.4 x -39.1 x -16.2 x -10.3 x
Yield - 1.51% 0.85% - - -
Capitalization / Revenue 0.63 x 1.06 x 1.45 x 2.06 x 1.62 x 2.81 x
EV / Revenue 1.24 x 1.56 x 1.79 x 2.23 x 1.55 x 2.97 x
EV / EBITDA 34.6 x 26.6 x 32.7 x 10,112 x -48.2 x -13.3 x
EV / FCF 32.6 x 13.9 x 16 x 17.1 x -20.6 x -13.6 x
FCF Yield 3.07% 7.19% 6.23% 5.86% -4.84% -7.37%
Price to Book 1.2 x 1.76 x 2.51 x 2.47 x 1.2 x 1.25 x
Nbr of stocks (in thousands) 60,239 62,925 62,925 75,133 91,883 91,883
Reference price 2 86.60 132.5 204.0 209.0 99.50 90.50
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/30/23 3/29/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 8,292 7,876 8,835 7,632 5,655 2,958
EBITDA 1 296.7 462.2 483.9 1.68 -182.1 -663.3
EBIT 1 11.74 176.2 227.6 -262.8 -439.1 -966.7
Operating Margin 0.14% 2.24% 2.58% -3.44% -7.77% -32.68%
Earnings before Tax (EBT) 1 -1,232 40.8 126.6 -433.9 -516.7 -1,174
Net income 1 -953.7 188.9 200.2 -375.5 -495.2 -810.6
Net margin -11.5% 2.4% 2.27% -4.92% -8.76% -27.4%
EPS 2 -15.83 3.060 3.170 -5.340 -6.140 -8.822
Free Cash Flow 1 314.9 882.8 986.6 995.8 -425.2 -648.2
FCF margin 3.8% 11.21% 11.17% 13.05% -7.52% -21.91%
FCF Conversion (EBITDA) 106.12% 191.01% 203.89% 59,271.67% - -
FCF Conversion (Net income) - 467.25% 492.69% - - -
Dividend per Share - 2.000 1.734 - - -
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/30/23 3/29/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 5,054 3,937 2,994 1,285 - 480
Net Cash position 1 - - - - 363 -
Leverage (Debt/EBITDA) 17.03 x 8.52 x 6.187 x 764.7 x - -0.7231 x
Free Cash Flow 1 315 883 987 996 -425 -648
ROE (net income / shareholders' equity) -21.3% -0.27% 1.22% -6.97% -7.36% -15%
ROA (Net income/ Total Assets) 0.04% 0.76% 1.11% -1.28% -2.23% -5.1%
Assets 1 -2,343,346 24,706 17,975 29,255 22,198 15,896
Book Value Per Share 2 72.40 75.20 81.30 84.50 82.60 72.30
Cash Flow per Share 2 70.30 29.80 38.80 36.60 30.30 22.60
Capex 1 760 257 91.9 - 1,280 504
Capex / Sales 9.17% 3.26% 1.04% - 22.64% 17.05%
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/30/23 3/29/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Photovoltaic Solar Systems & Equipment

1st Jan change Capi.
GIGA SOLAR MATERIALS CORP. Stock Giga Solar Materials Corp.
+59.12% 406M
LONGI GREEN ENERGY TECHNOLOGY CO., LTD. Stock LONGi Green Energy Technology Co., Ltd.
-18.69% 19.47B
FIRST SOLAR, INC. Stock First Solar, Inc.
+3.74% 19.13B
ENPHASE ENERGY, INC. Stock Enphase Energy, Inc.
-15.29% 15.23B
TONGWEI CO.,LTD Stock Tongwei Co.,Ltd
-13.38% 13.47B
JINKO SOLAR CO., LTD. Stock Jinko Solar Co., Ltd.
-13.32% 10.6B
FLAT GLASS GROUP CO., LTD. Stock Flat Glass Group Co., Ltd.
+37.48% 7.64B
XINJIANG DAQO NEW ENERGY CO.,LTD. Stock Xinjiang Daqo New Energy Co.,Ltd.
-16.81% 7.26B
JA SOLAR TECHNOLOGY CO., LTD. Stock JA Solar Technology Co., Ltd.
-30.07% 6.63B
XINYI SOLAR HOLDINGS LIMITED Stock Xinyi Solar Holdings Limited
+16.23% 6.03B
Photovoltaic Solar Systems & Equipment
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